Russell inc. had sales of $2,200,000 for the first quarter of 2020. in making the sales, the company incurred the following costs and expenses. variable fixed cost of goods sold $920,000 $440,000 selling expenses 70,000 45,000 administrative expenses 86,000 98,000 prepare a cvp income statement for the quarter ended march 31, 2020.

Which of the following best explains why large companies have an advantage over smaller companies? a. economies of scale make it possible to offer lower prices. b. the production possibilities frontier is wider for a larger company. c. decreasing marginal utility enables more efficient production. d. increasing the scale of production leads to a reduction in inputs.2b2t

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?